Mangstor, Inc Raises $10.2 Million to Fuel Growth and Development
Austin, Texas (PRWEB) September 17, 2015 -- Mangstor, Inc, a leading provider of industry standard NVMe Flash storage solutions, today announced it has closed $10.2 million in Series B funding. Led by New Science Ventures, this investment will be used to fuel growth in leadership, sales and engineering roles as well as to fund product and technology development.
“This investment confirms our leadership in NVMe over Fabrics and software configurable Flash technology to deliver an order of magnitude higher performance at the lowest latency verses legacy iSCSI and Fiber Channel solutions," said Trevor Smith, President and Chief Executive Officer of Mangstor, Inc. “IT managers can now deploy flash storage with unprecedented low latency and high IOPs, with the benefits of dynamic provisioning and centralized management.”
“We are focused on building companies that develop leadership technology to create extraordinary value,” said Vivek Mohindra, partner at New Science Ventures. "Mangstor’s team and the flash networked storage technologies they have developed are poised to enable unprecedented advances across industries where real time data analysis is critical. We see incredible potential for them in applications ranging from data bases, big data analysis, streaming data and all high performance computing (HPC) applications.”
Mangstor recently accepted a Best of Show award for Most Innovative Flash Memory Technology at the Flash Memory Summit in Santa Clara, CA for its highest performance NX-Series NVMe over Fabric Enterprise Flash Storage Arrays. Mangstor’s NX6320-Series NVMe over Fabric shared Flash storage arrays scale to provide unprecedented read and write performance at low latency. The NX6320-Series Management stack provides industry common APIs, including seamlessly integrating with Openstack Cinder to deliver management simplicity, along with expanded storage performance and functionality for customers deploying either traditional enterprise IT managed storage or storage services on the OpenStack platform.
About Mangstor
Mangstor provides industry leading storage products based on the industry standard NonVolatile Memory Express (NVMe). The MX6300 PCIe card SSD is the highest performance and lowest latency SSD in the industry, for use in servers and storage products. The NX6320 Flash array is the industry’s first available product supporting the NVMe over Fabric interface, with support for Ethernet and InfiniBand fabrics. NVMe over Fabrics offers considerable performance and latency advantages over iSCSI and Fiber Channel Flash storage solutions. For more information, visit http://www.mangstor.com.
About New Science Ventures
New Science Ventures, LLC (NSV) is a New York-based venture capital firm which invests in companies using novel scientific approaches in the Life Sciences sector (biotech, pharma, and medical devices) and the Information Technology sector (semiconductors, photonics and advanced materials). For more information, visit the company's web site at http://www.newscienceventures.com.
Mangstor Contact:
Mangstor, Inc.
Meghan Shields, 512-879-9241
pr(at)mangstor(dot)com
Meghan Shields, Corporate Communications, Mangstor, Inc, +1 (512) 879-9241, [email protected]
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